VAALCO Energy advances drilling, FPSO and maintenance programs across Africa
VAALCO Energy, Inc. reported continued operational progress across its diversified upstream portfolio in the third quarter of 2025, with key developments in Gabon, Côte d’Ivoire, Egypt, Canada, and Equatorial Guinea. The company said it remains on track for multiple production-enhancing campaigns through 2026.
In Gabon, VAALCO completed a full-field maintenance turnaround—the first since bringing its new FSO online in 2022—executed on budget and without safety or environmental incidents. The company expects to commence its 2025–2026 drilling program in late November once the contracted rig completes its current commitments. The campaign includes multiple development, appraisal, and workover wells at the Etame, Seent, and Ebouri fields, including re-entry operations targeting reserves previously excluded due to hydrogen sulfide.
In Côte d’Ivoire, refurbishment of the Baobab FPSO continues on schedule at the Dubai shipyard, with the vessel five months into dry-dock operations. The project will enable a new development drilling phase in 2026 aimed at extending production life from the Baobab field and potentially unlocking additional volumes from the Kossipo field within the CI-40 license.
In Egypt, the ongoing drilling campaign has delivered strong results, with four new development wells completed in the Eastern Desert and an additional exploration well finalized in the Western Desert. Continuous well interventions and optimization efforts have also supported higher production levels through the quarter.
In Canada, VAALCO deferred new drilling to focus capital on higher-return international projects but continues to pursue low-cost optimization work to enhance existing output.
Meanwhile, in Equatorial Guinea, VAALCO completed front-end engineering and design (FEED) for the Venus field development in Block P and is now assessing alternative technical solutions to improve project economics.
Chief Executive Officer George Maxwell said the company remains positioned for growth: “We are preparing for multiple production-enhancing drilling campaigns across our diversified asset base. Our FPSO refurbishment in Côte d’Ivoire, upcoming rig arrival in Gabon, and ongoing success in Egypt lay the groundwork for meaningful growth in 2026 and beyond.”
